Arena Pharmaceuticals, Inc. (ARNA) Expected to Announce Earnings of -$0.69 Per Share

18 Août, 2017, 05:30 | Author: Claudine Rigal

American International Group Inc. increased its position in Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) by 7.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. Arena Pharmaceuticals's revenue for the quarter was down 31.8% compared to the same quarter a year ago.

Several other hedge funds have also added to or reduced their stakes in the company. AXA boosted its position in shares of Arena Pharmaceuticals by 1,420.6% in the first quarter. Wells Fargo & Company MN now owns 177,515 shares of the biopharmaceutical company's stock valued at $259,000 after buying an additional 1,050 shares during the period. TIAA CREF Investment Management LLC's holdings in Arena Pharmaceuticals were worth $1,141,000 at the end of the most recent reporting period. Cornerstone Capital Management Holdings LLC. boosted its position in shares of Arena Pharmaceuticals by 292.6% in the first quarter. Renaissance Technologies LLC now owns 8,479,445 shares of the biopharmaceutical company's stock valued at $12,380,000 after buying an additional 957,190 shares during the period. Finally, Nationwide Fund Advisors boosted its stake in shares of Arena Pharmaceuticals by 4.8% in the first quarter. AXA now owns 568,700 shares of the biopharmaceutical company's stock valued at $830,000 after buying an additional 531,300 shares during the last quarter. Bank of America Corp DE now owns 96,379 shares of the biopharmaceutical company's stock valued at $141,000 after buying an additional 48,667 shares during the period.

Bridgepoint Education Inc (BPI) shares are moving today on volatility -3.67% or $-0.33 from the open. (NASDAQ:ARNA) fell -0.44% in morning trade Thursday. NY now owns 172,165 shares of the biopharmaceutical company's stock worth $251,000 after buying an additional 17,565 shares in the last quarter.

03/15/2017 - Arena Pharmaceuticals, Inc. had its "outperform" rating reiterated by analysts at FBR Capital Markets. In terms of moving averages, the 200-day is now at 15.68, the 50-day is 19.54, and the 7-day is resting at 21.38.

Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) has been trading in a bullish manner, based on the relative positions of the stock's 20 and 200 day moving averages.

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As of the last earnings report the EPS was $-0.74 and is estimated to be $-2.94 for the current year with 39,220,000 shares outstanding. During the same period in the previous year, the firm posted ($1.10) EPS. The business had revenue of $6.49 million for the quarter, compared to the consensus estimate of $5.58 million. After a recent check, Arena Pharmaceuticals, Inc.'s 14-day RSI is presently at 44.828.

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Currently, the 14-day ADX for Arena Pharmaceuticals Inc (ARNA) is sitting at 26.69.

Several equities analysts have recently weighed in on the stock. Finally, Citigroup Inc. upped their target price on Arena Pharmaceuticals from $23.00 to $37.00 and gave the company a "buy" rating in a report on Tuesday, July 11th. The stock now has a consensus rating of "Buy" and an average target price of $36.00. They issued a "buy" rating and a $23.00 price objective for the company. The average investment recommendation on a scale of 1 to 5 (1 being a strong buy, 3 a hold, and 5 a sell) is 2.10, which implies that analysts are generally neutral in their outlook for ARNA over the next year. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $37.00 target price on shares of Arena Pharmaceuticals in a research note on Monday, July 17th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. It is meant to chart the current and historical strength or weakness of a stock or market based on the closing prices of a recent trading period.

Arena Pharmaceuticals, Inc., launched on April 14, 1997, is a biopharmaceutical company. The Company is focused on developing small molecule drugs across a range of therapeutic areas. The Company has three primary investigational clinical programs: etrasimod (APD334) in Phase II evaluation for ulcerative colitis, APD371 entering Phase II evaluation for the treatment of pain associated with Crohn's disease, and ralinepag (APD811) in Phase II evaluation for pulmonary arterial hypertension (PAH).

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